Aligos Therapeutics, Inc. Segments Disclosure
15. Segment information
The CODM assesses performance for the Company’s segment and decides how to allocate resources based on the Company’s total operating expenses as reported on the Consolidated Statements of Operations and Comprehensive Loss. The CODM’s review of total operating expenses at the consolidated level is used to monitor the Company’s spending as well as budget versus actual results. As part of the CODM’s review of the segment’s performance, the CODM reviews the Company’s operating expense information. This includes research and development costs as well as general and administrative expenses. Based upon the operating expense information, the CODM can reconcile to net loss as reported on the Consolidated Statements of Operations and Comprehensive Loss, shown in the table below. The significant expense categories are consistent with those presented on the face of the consolidated financial statements, except for the breakout of the early-stage research and development from the late-stage research and development. The CODM does not receive or use any other segmented or disaggregated financial or any significant expense information for decision making purposes.
The following table provides segment revenues, significant segment expenses and reported segment net income for the years ended December 31, 2025 and 2024:
|
|
Year ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Revenue from collaborations |
|
$ |
- |
|
|
$ |
334 |
|
Revenue from customers |
|
|
2,186 |
|
|
|
3,611 |
|
Less: |
|
|
|
|
|
|
||
Early-stage research and development(1) |
|
|
(3,147 |
) |
|
|
(3,506 |
) |
Late-stage research and development(2) |
|
|
(66,306 |
) |
|
|
(66,763 |
) |
General & Administrative |
|
|
(20,718 |
) |
|
|
(22,830 |
) |
Total operating expenses |
|
|
(90,171 |
) |
|
|
(93,099 |
) |
Interest and other income, net |
|
|
3,922 |
|
|
|
4,406 |
|
Change in fair value of 2023 Common Warrants |
|
|
60,184 |
|
|
|
(46,132 |
) |
Loss before income tax |
|
|
(23,879 |
) |
|
|
(130,880 |
) |
Income tax provision |
|
|
(314 |
) |
|
|
(331 |
) |
Segment and consolidated net loss |
|
$ |
(24,193 |
) |
|
$ |
(131,211 |
) |
(1) Early-stage research and development includes costs incurred from Discovery programs.
(2) Late-stage research and development includes costs incurred from Phase 1 clinical trial programs.
The Company’s reportable segment primarily generates revenue through its license and collaboration agreements (see Notes 9 and 10). The measure of segment assets is reported on the Consolidated Balance Sheets as total assets. The Company has $1.7 million and $0.2 million of fixed assets in Aligos-US and Aligos-Belgium, respectively, as of December 31, 2025, and $2.1 million and $0.2 million of fixed assets in Aligos‑US and Aligos-Belgium, respectively as of December 31, 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.